Service Robotics Market is expected to generate a revenue of USD 173.17 Billion in 2030, Globally, at 21.25% CAGR: Verified Market Research®
The market for service robotics is being driven by the increasing adoption of robots for new applications that provide high returns on investment and increased funding for robot research. Furthermore, in the aftermath of the COVID-19 pandemic, there is a growing need to reduce hospital-acquired infections regularly, which has fueled the demand for robots for disinfection and sanitation.
Jersey City, New Jersey, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Service Robotics Market” By Service Type (Professional, Personal), By Application (Domestic, Industrial/Commercial), By Environment (Aerial, Ground), and By Geography. According to Verified Market Research, the Service Robotics Market size was valued at USD 30.57 Billion in 2021 and is projected to reach USD 173.17 Billion by 2030, growing at a CAGR of 21.25% from 2022 to 2030.
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202 - Pages
126 – Tables
37 – Figures
Global Service Robotics Market Overview
Because of the rapid technological advancements in automation, engineering, artificial intelligence, and machine learning, the robotics industry is rapidly stimulating the service robotics market trends. The consequences of the introduction of robots have resulted in a shift in human task-performing capacity. Furthermore, the implications of robotics’ growth will boost developing countries’ productivity and economic expansion. Additionally, because underdeveloped economies lack skilled labor, service robots can open up significant opportunities in various industries.
Data ownership raises ethical concerns, particularly with the rise of robotics software services. There is always a significant difference between the data collected by ground drones and by sky drones. Third parties, such as marketing and database agencies, frequently purchase this data, putting individuals’ privacy at risk. Because most equipment manufacturers use their in-house interface protocols for communications, the lack of standardization in robotics technologies such as AI and machine vision complicates system integration. In healthcare and military & defense industries, the consequences of a data breach are significant, necessitating regulations that do not suffocate robotics-related technologies.
- In September 2020, SoftBank Robotics Group and Bear Robotics collaborated to form a service robot for the food and hospitality industry. The service robot was named SERVI.
- In February 2020, Intuitive Surgical completed the acquisition of Orpheus Medical.
The major players in the market are iRobot, Intuitive Surgical, Honda Motor, Panasonic Holdings, Aethon, Yujin Robot, Samsung Electronics, DeLaval, Robert Bosch, Electrolux, and Others.
Verified Market Research has segmented the Global Service Robotics Market On the basis of Service Type, Application, Environment, and Geography.
- Service Robotics Market, By Service Type
- Service Robotics Market, By Application
- Service Robotics Market, By Environment
- Service Robotics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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